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The website you are accessing is created and maintained by another entity. We make no representation or warranty with respect to the information contained on the site or that it is appropriate in all jurisdictions or countries, or for use by all investors or counterparties. The products and services discussed at this site may not be appropriate for sale or use by all investors or counterparties. By providing this link, we are not providing you with investment advice or offering securities for sale to you. All persons and entities that access this site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.

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Insights

Policy Response: Where’s the Way Out?

Elliot Hentov

Head of Policy and Research

April 17, 2020

The COVID-19 pandemic has brought about a severe and unprecedented global economic shock. However, we believe that the economic rebound in developed markets will be robust as public health data start to improve and social distancing measures are lifted. In particular, the US, Europe and Japan have implemented swift and decisive policy action to alleviate the economic damage arising from the pandemic.

Emerging markets will likely experience a much greater public health and economic impact and many countries will require lending assistance on the road to recovery.
We forecast that the COVID-19 pandemic will reduce global GDP growth significantly in 2020 to levels associated with a global recession and the third-worst performance in about half a century, even if it remains above growth performance in 2009. However, we expect to return to a healthy, normalised growth rate by the end of 2021.

This information is for informational purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

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